ORDER NO. ~_3A14 RF'F'ROVAL OF F'AYh1ENT TO N.F'UR FOR DF_F'OSI'T FOR SETTING ELECTRIC F'OLE RT THE LRW ENFORCEMENT CEN"fER On this the c@th day of Jamaary 1997, upon motion made by Cotmty J~_idge, seconded by Commissioner Lackey, the Caurt unanimously approved by a vote of 5-@-@, the payment of ~'~@@ to KF'UR for setting electric pole at the L_aw EnForcement Center- and a~_ithori:•.e a hand check. The Co~_inty Ai.~ditor and County Trea=_urer are hereby authorized to draw a vo~_~cher for 9>~@@.@@ made payab7.e to KF'UP. Order Nc. 23814 Approval of payment to KPUB for Deposit for setting electric pole at the Law Enforcement Center January 20, 1997 Vol. V pn 27 Since 1936 FIDELITY ABSTRACT & TITLE CO. ,`Jinimic L'. PescLel P.O. BOX 509, 829 JEFFERSON ST. PresiJent ~~.' KERRVILLE, TEXAS 78028 ~, ~~,~ )210) 257-2822 ~' ~ ~ _ Fax N ~Z10) 257-2960 ~~,.C! ~"'"u" 7 //j January 29, 1997 Kerr County ~ ~( rP.lc1 ~ ~~~ % ~GrT?q~ David Motley, Kerr County Attorney Kerr County Courthouse Kerrville, TX 78028 RE: GF 931061 Four States Financial/Kerr County bear Mr. Motley: Enclosed please find your original Owner's Policy of Title Insurance insuring title to 'the property acquired by you in the above referenced transaction. As we were organizing and re-arranging some of the files in our office we noticed we had overlooked mailing out the original policy. We apologize for this oversight and any inconvenience it may have caused. Please feel free to contact our office if you have any questions or need anything further in the future. Sincerely, F ELITY. ABSTRACT & TITLE CO. J mmie L. Peschel resident enc. JAN 3 1.1997 ISSUED BV ® Commonwealths POLICY NUMBER Land Title Insurance Company Z 15 -10 5 9 0 9 OWNER'S POLICY OF TITLE INSURANCE SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B AND THE CONDITIONS AND STIPULATIONS, Commonwealth Land Title Insurance Company, a Pennsylvania corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage, not exceeding the Amount of Insurance stated in Schedule A, sustained or incurred by the insured by reason of: i. Title to the estate or interest described in Schedule A being vested other than as stated therein; 2. Any defect in or lien or encumbrance on the title; 3. Any statutory or constitutional mechanic's, contractor's, or materialman's lien for labor or material having its inception on or before Date of Policy; 4. Lack of a right of access to and from the land; 5. Lack of good and indefeasible title. The Company also will pay the casts, attorneys' fees and expenses incurred in defense of the title, as insured, but only to the extent provided in the Conditions and Stipulations. IN W ITNESS WHEREOF, COMMONWEALTH LAND TITLE INSURANCE COMPANY has caused its corporate name and seal to be hereunto affixed by its duly authorized officers, the Policy to become valid when countersigned by an authorized officer or agent of the Company. ACL25L /I///,/-7/~ ~~ ~L~re[~ry~ COMMONWEALTH LAND TITLF, INSURANCE COMPANY ~ sy Nresident EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any law, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (iii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (iv) environmental protection, or the effect of any violation of these laws, ordinances or governmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect, lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking that has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects, liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attacYiing or created subsequent to Date of Policy; (e) resulting in loss or damage that would not have been sustained if the insu red claimant had paid value for the estate or interest insured by this policy. 4. The refusal of any person to purchase, lease or lend money on the estate or interest covered hereby in the land described in Schedule A because of unmarketability of the title. 5. Any claim which arises out of the transaction vesting in the person named in paragraph 3of Schedule Athe estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or other state or federal creditors' rights laws that is based on either (i) the transaction creating the estate or interest Insured by this Policy bet ng deemed a fraudulent conveyance or fraudulent transfer or avoid- abledistribution or voidable dividend, (ii) the subordination or recharacterization of the estate or interest insured by this Policy as a result of the application of the doctrine of equitable subordination or (iii) [he transaction creating the estate or interest insured by this Policy being deemed a preferential transfer except where the preferential transfer results from the failure of the Company or its issuing agent [o ti mely file for record the instrument of transfer to the insured after delivery or the failure of such recordation to i mpart notice to a purchaser for value or a judgment or lien creditor Face Page FOI•m 1178-1 ORIGINAL Valid Only If Schedule A, B and Cover Are Attached CONDITIONS AND STIPULATIONS 1. DEFINITION OF TERMS. The following terms when used in this policy mean: (a) "insured" meinsuretl named in Schedule A,and, sublect to any rights or defenses the Company would have had against the named insured. those who succeed to the interest of the named insured by operation of law as tlistinguishetl from purchase including, but not limited m, heirs, tlistributees, devisees, survivors, personal representatives, next of kin, or corporate, partnership or htluciery successors, and specifically, without limitation. the follow- ing. (i) the successors in interest in a corporation resulting from merger or consolitla- ^on or the distribution o/the assets of the corpoation upon partial or complete bquidalion; (ii) the partnership successors in interest too general or limited partnership which dissolves but does not terminate; (iii) the successors in interest to ageneral or limited partnership resWAng from the distribution of the assets of the general or limited partnership upon partial or complete liquidation; (iv) the successors in lntere~tm ajoint venture resulting from the distribution acme assets of the joint venture upon partial or complete liquidation; (v) the successor or substitute trustee(s) of a trustee named m a written trust instrument; or (vi) the successors in interest tp a trustee or trust resulting from the distribution of all or part of the assets of the trust to the beneficiaries thereof. (b) "insured claimant" an insured claiming loss or damage. (c) "knowledge" or "known". actual knowledge, not constructive knowledge or notice that may be imputed to an insured by reason of ilia public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (d) "land" the land described Or referred to in Schedule A, and improvements affixed thereto that by law constitute real property The term "land" does not include any property beyond the lines of the area described or referred to in Schedule A, nor any right, title, interest, estate or easement in abutting streets, roads, avenues, alleys, lanes, ways or waterways, but nothing herein shall modify or Ilmd the extent b which a right of access to end from the land ie insured by this policy. (e) "mortgage"' mortgage, deed of trust, trust deed, or other security Instrument. (Q "public records" records established under state statutes at Oate of Policy for the purpose of imparting constructive notice of matters relating tp real property to purchasers for value and without knowledge. With respect to Section 1(a)(iv) Of the Exclusions From Cover age, "public records" also shall include environmental protection liens filed in Ne records of the clerk of the United States district court for the district in which the land Is located. (g) "access" legal right of access to the land and not the physical condition of access. The coverage provided as to access does not assure the adequacy of access for the use intended Z. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TITLE. The coverag¢ of this policy shall continue in force as of Date Of Policy m favor of an insured only so long as the insured retains an estate or interest in the land, or holds an intlebtetlness secured by a purchase money mortgage given py a purchaser from the insured, or only so long as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer ar conveyance of the estate or interest. This policy shall not continue m force in favor of any purchaser from the insured of either (i) an estate or interest in the land, or (ii) an indebtedness secured by a purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BV INSURED CLAIMANT. The insured shall notify the Company promptly in writing (i) in case of any litigation asset forth in Section 4(a) below, or (ii) incase knowledge shall come to an insured hereunder of any claim of title or interest that is adverse to the title to the estate or interest, as Insureq and roar might cause lass or damage for wNCh the Company may be liable by virtue of this policy If prompt notice shall not be given to the Company, then as to the insured all liability of the Company shall terminate with regard to the matter or matters for which prompt notice is requred; provided, howeve( that failure to notify the Company shall in n0 cdse prejudice the rights of any insured under ibis policy unless the Company shall be prejudiced by the failwe and then only to the extent of the prejudice. When, aher the date of the policy, Ne insured notifies the Company as regwretl herein of a lien, encumbrance, adverse claim or other Defect in title to the estate or interest in the land Insured by this policy that is not excluded or excepted from the coverage of this policy, ins Company shall promptly investigate the charge to determine whether the lien, encumbrance, adverse claim or defect iS valid and not barred by law or staNte. The Company shall notify the Insured in writing, within a reasonable time, of its determination as to the validity or invahdiry of the insuretl's claim or charge under the policy. I( the Company concludes that the lien, encumbrance, adverse claim or defect Is not covered by this policy, or was otherwise addressed in the closing of the transaction in connection with which this policy was issued, the Company shall specifically advise the insured of the reasons for its tleterminafion. If the Company concludes that the lien, encumbrance, adverse claim or defect is valiQ the Compa- ny shall take one of the following actions. Q) institute the necessary proceedings to clear the lien, encumbrance, adverse claim or defect from the title to the estate as insured; (ii) indemnify the insured as provided in this policy; (nq upon payment of appropriate premium and charges therefor. issue to the insured claimant or to a subsequent owner, mortgagee or holder of Ne estate or interest in the land insured by this policy, a policy of title insurance without exception far the Ilan, encumbrance, adverse claim or defect, said policy to be in an amount equal to the current value of the property or if a mafgagee policy, the amount of the loan; pv) indemnify another title insurance company in connection with its issuance Of a policy(ies) of title insurance without exception far the lien, encumbrance, adverse claim or defect: Iv) secure a release orotherdocument discharging the lien, encumbrance, adverse claim or defect; or (vi) undertake a combination of (i) through (v) herein. 4. DEFENSE AND PROSECUTION OF ACTIONS: DUTY OF INSURED CLAIMANT TO COOPERATE. (al Upon writen request bythe insured and sublect to the options contained In Section6 of these COntlltions and Stipulations, me Company, at its own cast and without unreasonable delay, shall provltle for the defense of an insured in litigation in winch any third parry asserts a claim adverse to the title or interest as insureq but only as to those stated causes of action alleging a defect, lien or encumbrance Or other matter insured against by this policy. Tne Company shall have the right to select counsel of ifs choice (subject to [he rghf of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shall not be liable for and will not pay the Sees of any other counsel. The Company will not pay any fees, costs Or expenses incurred by the insured In the defense o/ chose causes of action that allege matters not insured against by this policy. (b) The Company shall have the right, at its own cost, to institute and prosecute any action or proceeding or to tlo any other act that in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the inswetl. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision pf tins policy. If the Company shall exercise its rights under this paragraph, it shall tlo so diligently. (c) Whenever the Company shall have brought an action or interposed a defense as required or permitted by the provisions of this palmy, the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right, m its sole discretion, to appeal from any adverse judgment or order (d) In all cases where this policy permits or requires the Company to prosecute or provide for the defense of any action or proceeding, the insured shall secure to the Company the right to so prosecute or provltle defense in the action or proceeding, and all appeals therein, and permit the Company to use, at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expense, shall give the Company all reasonable aid (i) in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or tlefentling the action or proceeding, or effecting settlement, and (ii) in any other lawful act that in the opinion of the Cpmpany may be necessary or desirable to establish the title to the estate or interest as insured. If the Company is prejudiced bythe failure pf the insured to furnish me required cooperation, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE, In atltlition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of lass ordamage signed and sworn to by the insured claimant shall be furnished to the Company within 91 days after the insured claimant shall ascertain the facts giving rise to the loss or damage. The proof of loss or damage shall describe ilia defect in, or lien or encumbrance on the title, or other matter insured against by this policy that constitutes the basis of loss or damage and shall state, to the extent possible, the basis of calculating the amount of the loss or damage. If the Company is prejudiced by the failure Of the insured claimant to provide the required proof of loss pr damage, the Company's obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In adtliti0n, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shall produce for examina- tion, inspection and copying, at such reasonable times and places as may be designated by any authorized representative of the Company, all records, books, ledgers, checks, corre- spondence and memoranda, whether bearing a date before or after Dale of Policy. which reasonably pertain to the loss or damage. Further, if requested by any authorized representa- tive of the Company, the insured claimant shall grant its permission, in writing, for any authorzed representative of ilia Company to examine, inspect and copy all records, books, ledgers, checks, conespontlence and memoranda in the custody Or control of a third party, which reasonably pertain to the loss or damage. All information designated as confidential by the insured claimant prOmded to the Company pursuant to this Section shall not be disclosed to others unless, in the reasonable judgment Of the Company, it is necessary in the administra- tion ofthe claim. Failure of the insured claimant tp submit for examination under oath, produce other reasonably requested information or grant permission fo secure reasonably necessary information from third parties a$ required In this paragraph shall terminate any liability of the Company under this policy as to that claim 6. OPTIONS TO PAV OR OTHERWISE SETTLE CLAIMS; TERMINATION OF LIABILITY. In case of a claim under this policy, the Company shall have the following additional opllons'. (a) To Pay or Tender Payment of the Amount of Insurance 7o pay or tender payment of the amount of insurance under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obligated to pay Upon the exercise by the Company of this option, all liabikty and obligations to the insured under this policy, other than to make the payment required, shall terminate, including any liability or oblrgetion fo detenq prosecute, or continue any litigation, and the policy shell be surrendered to the Company for cancellation. (bl To Pay or Otherwise Settle With Parties Other than the Insured or With the Insured Claimant (q to pay or otherwise settle wdh other parties for or in the name of an insured claimant any claim insured against under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or Iii) to pay or otherwise settle wim the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred by the insured claimant which were authorized by the Company up b the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ill, the Company's obligations to the insured under this policy for the claimed loss or damage, other than the payments required t0 be made. shall terminate, Including any liability or obligation t0 defend, prosecute or continue any litigation. B 1178-1 CONDITIONS AND STIPULATIONS (Continued) ~. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This policy is a contract of indemnity against actual monetary loss or tlamage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. la) The liabihry of the Company under this policy shall not exceed Ne least of: (i) the Amount of Insurance etatetl in Schedule A; (ii) The difference between the value of the insured estate or interest as insured antl the value of the insured estate or interest subject to the defect, lien or encumbrance insured against by this policy at the tlate the insured claimant is required to furnish to Company a proof of loss or tlamage in accortlance with Section 5 of these Conditions and Stipulations. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of the Insuretl estate or interest or the full consideration paid for the lantl, whichever is less, or if subsequent to the Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by at least 20 pertain over [he Amount of Insurance stated in Schedule A, then this Policy is subject to the following'. (i) where no subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that the amount of insurance at Date of Policy bears to the total value of the insured estate or interest at Date of Policy; or pp where a subsequent improvement has been made, as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance statetl in Schedule A and the amount expended for the improvement The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable underthis policy, and shall only apply to that portion of any loss which exceeds, in the aggregate, 10 percent of the Amount of Insurance stated in Schedule A. tc) The Company will pay only those costs, attorneys' fees and expenses incurretl in accordance with Section 4 of these Contlitions and Stipulations. 8. APPORTIONMENT. H the lantl tlescribed in Schedule A consists of two or more parcels that are not used as a single site, antl a loss is established affecting one or more of the parcels but not all, the loss shall be computed and settletl on a pro rata basis as if the amount of insurance untler this policy was tlivitled pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made subsequent to Dale of Policy, unless a liability or value has otherwise been agreed upon as to each parcel by the Company antl the Insuretl at the time of the issuance of this policy and shown by an express statement or by an endorse- ment attachetl to this policy. 9. LIMITATION OF LIABILITY. (a) IF [he Company establishes the title, or removes the alleged tlefect, lien or encum- brance, or cures the lack of a right of access to or from the lantl, all as insured, or takes action in accortlance with Section 3 or Section 6, in a reasonably diligent manner by any methotl, including litigation and the completion of any appeals therefrom, it shall have fully performed its obligations with respect to that matter and shall not be liable for any loss or damage caused thereby. (b) IntheeventofanylitigatioaindudinglitigationbytheCompanyorwiththeCompa- ny's consent, the Company shall have no liability for loss or damage until there has been a final determination by a court of competent jurisdiction, antl tlispositicn of all appeals there- from, adverse to the title as insured. (c) The Company shall not be liable for loss or damage to any insured for habdity voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE: REDUCTION OR TERMINATION OF LIABILITY. All payments under this policy, except payments made for costs, attorneys' fees antl expenses, shall reduce the amount of the insurance pro Canto. 11. LIABILITY NONCUMULATIVE. It is expressly understood that the amount of insurance under this policy shall be reduced by any amount the Company may pay untler any policy insuring a mortgage to which exception is taken in Schedule 8 or to which the Insuretl has agreetl, assumed, or taken subject, or which is hereafter ezecutetl by an insured and which is a charge or lien on the estate or interest tlescribed or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the Insuretl owner. 12. PAYMENT OF LOSS. (a) No payment shall be made without protlucing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of lass or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been tlefinitely fined in accor- dancewith these Contlitions and Stipulations, the loss or tlamage shall be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. (a) The Company's Right of Subrogation. Whenever the Company shall have settled and paid a claim under this policy, all right of subrogation shall vest in the Company unaHectetl by any act of the insured claimant. the Company shall be subrogatetl to and be entitled to all rights antl remetlies that the Insuretl claimant wcultl have had against any person or property in respect to the claim had this policy not been issued. If requestetl by the Company, the insured claimant shall transfer to Me Company all rights antl remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant shall permit the Company to sue, compromise or settle in the name of the insured claimant and to use the name of the Insuretl claimant in any transaction or litigation involving these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant, the Company shall be subrogatetl to these rights and remetlies in the proportion which the Compa- ny's payment bears to the whole amount of the loss. Texas Owner Policy T-1 (Rev. 1-1-93) Cover Page Form 1178-2 If loss should result from any act of the insured claimant, as stated above, that act shall not void this policy, but the Company, in that event, shall be requiretl to pay onlythat part of any losses insured against by this policy that shall exceed the amount, if any, last to the Company by reason of the impairment by the Insuretl claimant of the Company's tight of subrogation. (b) The Company's Rights Against Non Insuretl Obligors. The Company's right of subrogation against non-insured obligors shall exist and shall include, without limitation, the rights of the insured to intlemmbes, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instru menu that provitle for subrogation rights by reason of this policy. 16. ARBITRATION. Unless prohibted by applicable law or unless this arbitration section is deleted by specific provision in Schedule B of this policy, either the company or the insured may de- mandarbitration pursuant to the Title Arbitration Rules or the American Arbitration Associ- ation. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance is $1,000,000 or less SHALL BE arbitrated at the request of either the Company or the Insured, unless the insured is an individual person (as distinguished from a corporation, trust, partnership, association or other legal entity). All arbitrable matters when the Amount of Insurance is in excess of $1,000,000 shall be arbitrated only when agreetl to by both the Company and the Insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys' fees only if the laws of the state in which the land is located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rentlered by the Arbitrator(s) may be entered in any court hav- ing lunsdictionthereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request. 15. LIABILITY LIMITED TO THIS POLICY: POLICY ENTIRE CONTRACT (a) This policy together with all endorsements, if any, attachetl hereto by the Companyis the entire policy and contract between the insured and the Company. In interpreting any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or tlamage, whether or not basetl on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim, shall be restricted to this policy (c) No amendment of or entlorsement to this policy can be made except by a writing endorsed hereon or attached hereto signetl by either the President, a Vice President, the Secretary, an Assistant Secretary, or validating officer or authorizetl signatory of the Company 1fi. SEVERABILITY. In the event any provision of the policy is held invalitl or unenforceable under applicable taw, the policy shall be deemed not to include that provision, antl all other provisions shall remain in full force and effect. 1l. NOTICES, WHERE SENT. All notices requiretl to be given the Company antl any statement in writing required to be furnished the Company shall inclutle the number of this policy antl shall be addressetl to the Company at Commonwealth Land Title Insurance Company, Eight Penn Center, Philadelphia. Pennsylvania 19103 2198 COMPLAINT NOTICE. Should any dispute arise about your premium or about a claim that you have filed, contact the agent or write to the Com- panythat issued the policy. If the problem is not resolved, you also may write the Texas Department of Insurance, P.O. Box 149091, Austin, TX 78714-9091, Fax No. (512) 475-1771. This notice of complaint procedure is for information only and does not become a part or condition of this policy. FOR INFORMATION, OR TO MAKE A COMPLAINT, CALL: 1-800-925-0965 PARR INFORMACION, O PARA HACER UNA QUEJA, HABLE 1-800-925-0965 ORIGINAL Valid Only If Face Page, Schedules A and B Are Attached TEXAS OWNER POLICY OF TITLE INSURANCE /slued by Commonwealth® Land Title Insurance Company Title Insurance Since /876 HOME OFFICE EIGHT PENN CENTER PHILADELPHIA, PA 19103-2198 B tt78-2 ri "~i~ ---~-- - _ __ ___ _--- ~s- __- -- _ __- .. i Commonwealth® Land Title Insurance Company ~~ r. TEXAS OWNER POLICY Yssued with Policy No. SCHEDULE A Amount of Insurance: S~11,SG:;,47~~ Policy No. 1lJ-i+nS:d~':~ File No. 9~iwoif- Premium: $1,5"i7.K7rt~ Date of Policy: ~i~rrci-; 9, i`~54. 1. Name of Insured: ~:er-r- v. ~ur~ty, _.i exas 2. The estate or interest in the land that is covered by this policy is: r=ee Sirrai:~ie 3. Title to the estate or interest in the land is insured as vested in: 4, The land referred to in this policy is described as fellows: a=~i i'i"~aC r_ertairi Gr'a1_1: (Jr pars:_eax ~~7= ~in[5, iYing ane uei>`~y stturateo li°~ file ~o;_ir~i..Y or F;er-r, of ~t e.' _~r .e;: =..>, and oeir~q n~or~e part i_,_ilari~/ des:.~_rii-~E~:=ci jY n;ete~ arn:, ucn_i~nd=s a= f;,iir_~ws: [yPE.i' ..~!ra . nltdt .t VYl ~~IBe'[.. !- °p COMMONWEALTH LAND TITLE INSURANCE COMPANY Policy No. 175-105909 Continuation oC Schedule ~ G.F. No. 931061E 4. Legal Description: Being all of a certain Iraq or parcel of land containing 15.94 acres, more or Icss, out oC Sanmcl Wallace Sun'cy No. 113, Abstract No. 347, in the Ciry' of Kemillc, Kerr County, Texas; part of a cer6rin 72.30 acre Iraq conveyed from Dianne Moller Laurberl to Pour Stares Fiumrciid Corp. by a Subslidrlc Tnatcc's Dccd executed the 3rd rlay of Novenrbcr, 1192 and recorded in Volume GG3 at Page 576 of the Dccd Records of Kerr Counly,'I'cxas; and being more particularly dcscribcd by metes and bounds as follows: FEGINNING at a'G" iron slake set iu a fence al its intersection with the centerline oC the fonucr S. A. & A. P. R. R. right of-way in the the southeast line of the Schreiner Colicge propcrtY for the rvesl corner of tlrc herein dcscribcd tract and said 72.30 acre tract; )vhich point bears approximately 1592 R. N.45°~. from the west or upper river corner of said Surety No. 113; THENCE, along or near said farce Keith the connuon line bchvccu 72.30 acre Iraq mrd Schreiner Collcgc properly N.45°09'E., 9'JR.IR R. to a'/~" iron slake set for the no+lh corner o('the hcrcin dcscribcd tract; THENCE, upon, over and across said 72,30 acre Iraq 5.44°34'E., 9R2.U4 R, to a '/," iron slake set in a 15°55' curve to lire right io the proposed northwest right-of-u•ay line of the proposed eslension oC Clcancater Pasco/Olympic Drive, a proposed eighty (80) Il. wide public street for the cast corner oC the hcrcin dcscr ibcd tract; TI4ENCH, continuing upon, over mrd across said 72.30 acre Iraq with the proposed nortlnaesl right-of-way line of Cieanvaler Pasco/Olympic Urive: ISG.70 !l. along the arc of said cun~c to the right subtended by a 24°SG' ccn(rd :urgic and 3GOA1 R. radius (long chord: 5.33°04'W., 155.47 Il.) to a ''/i' iron smkc scl at its end; and 5.45°32'W., SIR.I3 R. to a '/~' irpn stake set in the southwest line oC72.30 acre tract and the norlhcasl lice of a ccrlain 7.02 acre tract conveyed as'IRACT NO. 2 from Dianne Moller Lanrbcrt to Loacr Colorado River Authority by a Wananly Dccd excartcd the Isl day of Fcbnraq', 1981 and recorded in Volume 257 al Pagc 258 of the Dccd Records of Kerr County, Tesas for the easterly south corner of the hcrcin dcscribcd tract, THENCE, with the said southwest line of 72,30 acre tract: N.44°34'W. with the said norlhcasl line oC 7,02 acre (tact, al 51$.9 R. passing achain-link [once cornerposl, Ilrc north conrcr of Z02 acre Iraq and the cast conrcr of a ccrlain 4.404 acre tract conveyed Gom Dianne Moller Lambert to Charles J. Whctau, Jr. and'flwnms V. Tait by a Warranty Dccd with Vendor's Lien executed the 8th day of Jwrc, 19$3 and recorded in Voluure 279 at Pagc 44$ of the Dccd Records of Kerr County, Texas, then continuing with the norlhcasl line of said 4.404 acre Iraq for a total distance of 961,34 f). to a '/~" iron stake set Cor a reentrant comer of the herein dcscribcd lrrcl and 72.30 acre tract, the north corner of 4AU4 acre tract; and 5.45°09'W. with the northwest line o(4.404 acre tract 349.48 Q. to a %," iron slake sc1 in the said cnderline of the Conner S. A. Rr, A. P, R. R. right-of-way for the westerly south corner of (Ire hcrcin dcscribcd tract; and N.21°2TW., 54.25 ^. with the said centerline of the (orurer S. A. & A. P. R. It. right-of-way to the PLACE OP BEGINNING. FIDII,ITY ABST12F1CT & TITLE CO. ,, troUN'I'ERSIt~TEp BY: ® Comrrlonwealth® Land Title Insurance Company TEXAS OWNER POLICY SCHEDULE H File No. '9.;l iTlE,i h= Policy No. ~.i5--1NS3f~9 EXCEPTIONS FROM COVERRGE -it:..=_: p~~lic;f d~rf== i-,:..t ;r:sflre against ions or damace (ar,d ti-re L~+mpary wii.i. riot: pay c{_sts~ attorney's tees or er,pensesl ttrat at'ise by reas>_~n _"t the terra artt; ccrrtd:iti.+_mr: ~'i~ the leases COY' eaSernenCS ir7sur'ed, it anyy shown ir: S{~I:ecn..i±.e H and tr7e 1=r_.,jlowinq matters; ;. TPS~X,~kG+%3fi4i6%fGl4XX'~-bXl('Xi#~fXl4~XfS~1~Xr~1~i7136~f3~X~(,XX7t~X`X~i~4tX%X~iGYk8Pt9Xt4~%d4iGXX~EDi~ i ixX~X~n5Xr7IIX:~tXtOhtXXx~XKDS~Y,'XY9f1~~`r7('XX95~4~a~:i~:CAXxa~!€X~X'E4aiG~aX~1gXffiX~i~X~a~%~~Si~X'k~Y~ ?: X X X ~Xit~lDk.X X,lu](X Q~ ;:kern 7. ~'F 5.::/-ed~_7ie "B" i3 :7eren"v deie2:ed in its entir'eC:y. ~/~ c'.. AYry l:~isrrc-panties, cxn'r(-;.icts, or sn,:_rrta~es in area crr' Go:_lndar"Y .tit'fes, ~v' ai`ry eYrt:.rc!achrrle7-:us ~.~~ pY~~t r'usioYfs, Ur' arty "verlappinq G~f' zrnprtivement+_. ~ F. . itc:~rnus"i r_~ta r; ~+r c~_rntrnur:ity ;.)r`f~i;]E'r'1.,1 ~1( ~_i_!t'~/i ~.'(_~(";~1i~ Y•i Cat}t 4, ifi C(rly, ~,) Cl rly ..,. ;;:,oaii1 z: Ll C,T Cr7 Et Y:q E?Ci bV =~Y:Y Ci <:~'Ver Y:fn f3 Y:ty ~?' C. C;_i i'.i !.16Ci--+. 1': 1.dnCls, i+r' art3.: LC'?. d. i J.Htci Y"ICIE, r' c.. "i,~_~ si:;:at:.lc:+_rr"y wa~lser' r'ig~7'S=.:-, 1FIL.'..7L+{]}.YHy r-ipari.arf r~ir'r'rt=_, +_~t' e>. ':.~,, t'"iE' area Erxte."ndirit; fr_~rn tl"ie i. i.Y;e _,fi mear: i.Ow tide= tc the lsr:r= er- .eLleta'G1C+Yt, G7^ tr:e T'i gI?t i,T aCCeSS t•'_i t!": a'C aY`ea OY' ea Sel':ierl'C ail ~Y:g a79G acY'~ ~s5 t`ti,c areao J. jta"n c:'sy 'F2e'=, C: a)t E1S aYfCt aSSPSSrnE~YftS icy aYfy tail Yly ct llt P'3 r~t'I'CV 7'iir' tfl2 vBar' 1'.9'9 aY!CI slf i7?:. ._{_, i_leY:t `ie<.:"Sy aY!G _t_U ~Set1 :_t c.nt to ai{es aY'1!! a55F?~-:ineYSt'_ uy " -- _ vear< Gue ~J usage c'tny (. a>t :!. 7!y dL!"7ef lCir.. J. Z:y 'F~~r' G1f .Cllr' _ _ F)~_, 1LnaYlge iY~l .t e"1 Y'1!J ~.,r E-: .. ?raa 'R~LOininq rn esters anti ~f .ci ter'rns cif tf~ie dnc,_trneYits cr'eat ing r. of~feriY:^ E"J1dE'3Yf{.e O":- the matter's {We mt:s~t insert matters or' r,e.tete tt-oi=_ a. zasernent tc CitY' cif r:Prt'vi lE', dated ~e~ir:_tar'v 1~, 1`J.3+~r, recorded xi'f 'JJ_~i!_une ,~i, -'age 373, Seed Kec:~:r'cis =. r,err-~ i~ountyy le:Kas. ® Commonwealth® Land Title Insurance Cnmpa~,yX - ::.-,. t.:~ss•rnerr~. o=_, ~ ~ a=_> r~c:w._r e. ._ ' t, : ~ . rare-t: . . _. _ . ,. _. i..~r:t:c--anv, aatE.:a I~':-irct7 _ , ., ,I c.i, '_'- ti ._ :"eC~~r'C]e C! 'r `: '1. t.t rile 4 c_ ._. v _. ~'a L'e . , . Jti, - ._ Ueei~ I^: E?C~;r'i7s ~!f Y,eT"r 1,,.+t_t'rtG }r, 16?x2is„ i... casc_rrler:t k:r~ texas ;-ewer .rC l_.iiar-;t i:nrn;larrr, dated Hi]r'li 11, i~~s~„ r'e C'Or"C3 E?i"; :1 Yi ~•IU ;. I!r:?E-' ~,~.1 ~.1, rage 4~3<'+, Deed I*ecnrds o F Ker-T~ G,:ur,t v, IG,iaS, ._ ., ._. _ Ci ., .. r. .. _~ ._ + ., ..' : '.d 1'1bJ Y"E'C+_rr'd ed 1 ri '+/~ :1 ll ri7e 4, c.t-;_em~-rrt tv i_. ~_ ~':, R. , caa.. k.l~ rerr_,r nary , , ~~a[;e ;.7.~,. is=:~serner:t Rei_c,t^ds _,F i:err- vcnarrl:_y, Texas. e. r=,;,s==rrlrzrtC r.c-,r.er`T vl:. ;.e T'eleGl-n:~rte ~onlr]any, dated 3+_' ld,b, _ _ -, _ _. _ r•ec~tT ~cJed lrt Gr_;l t.t me 1~~, ~`aqe. t7 i, t.asement kecor•ds at Kenr frour:t v. I F,c -.EiS. .._ - .. f,. ~.a=s c. rilE:_Trc cc:, c3o:_Itf-~west eT r, tte~ ie.teGric!r,e C1 c,mrarrY, dated Nt_Equst c: ~,, ;. 9Ei[::, r'eCSO"d E3U iY: Vc!i~_une 1. H, l'i317 E' Yb:J, ~.asE?rOenT, iaecor'ds o9' i:er-'r ~.:I. _.a=_:.erilertt is _, C ~.*,y ' ;t Y.eT rul l ~e, i e:aas, dated i}iay i i, 19;rk1, r•ec~ ~r•ded _ ' _ 7. Y: +:]1lU'(1e .. .'„ 1'a Cl F? 1E i3 ., ruaEieiile'rlt hZeCGT'd53 4'!' IieT'r' l..{n_t Yrt y, leXas. ,`l. h1 Y:y li .r Gil f.~i. F_` an[7ir,'r" aG¢a'r'ertt *"~,ad WaYs ;,r- easements GVer` rrr' adi"'.a5 'l ~'7 E? St..t U,; e(_'t r]"'G rler"[y. ,, '?r.cltrc- _,- Partie=s it-t f',_,ssessior:. BY -- _ ------------- ------------------- Authorixed Countersignature